Hi guys,
I'm currently working in Singapore as a machine learning engineer, thinking about moving to Japan since I got an offer from a company I used to do an internship/contract work for.
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My current monthly salary is about SGD 5,500 (656k yen).
Contract position.
Annual: SGD 66,000 (7.9 m yen)
I'm not a PR or Singapore citizen, so I pay 2% tax.
My net savings per month are about SGD 2,500 (300k yen)
The current company has no Housing allowance, no Transportation allowance, and no health insurance.
The only benefit they provide is that the Company will cover medicine and treatment when you are sick.
It's a contractor position, so it's not stable, and honestly, no career progression. I didn't even get a raise this year.
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For the company's offer in Osaka
Full-time position, AI engineer
Annual: 4.5m yen, monthly: 293k yen take home
They have a Transportation allowance, health insurance, with social insurance coverage.
They don't have a housing allowance, but will provide other support.
One-time relocation payment
The office is in Esaka, and I was there in 2023, and the cost of living per month was around 130k.
But inflation and rising cost of living, so I think 150k should be the new cost of living per month?
That leaves me with about 150k net savings per month. Half of what I can save in Singapore.
The thing is, the company is expanding, and based on what I can gather, they are doing pretty well. So maybe I can expect a higher salary in the future.
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There's one thing I want to point out: I have an endowment plan that's about SGD 1k (120k yen) per month. So after net income of 150k, I will be left with 30k yen every month as cash.
If I move, I will probably convert my funds/stock into SGD cash and pay the endowment plan that way. But it will eventually run out, so I will have to convert yen to SGD later to pay for this endowment plan in about 1 year.
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What do you guys think about this?
by chrisjeligo